Akado in the money

September 2, 2013 11.36 Europe/London By Chris Dziadul

The Russian cable operator Akado has posted a profit for the first time since 2006.According to Vedomosti, the company found itself R307.9 million (€7 million) in the black in the first half of this year, whereas in the same period last year it made a net loss of R37.9 million.EBITDA meanwhile rose by 41% to R2.65 billion and revenues by 21% to R6.17 billion.Moscow-based Akado is currently in the process of being sold by its owners Renova.Although it is due to be bought by the cable operator ER Telecom, the deal has been delayed and may now only be finalised later this autumn.